Using a very simple set of scripts based on a submission by Mac OS X Hints reader Andrew J. Freyer, you can greatly reduce the chances of an audio outburst during your regularly-scheduled activities, as long as you've scheduled those activities in iCal. Here's how to do it. First, you need to create two simple one-line AppleScripts.
Launch AppleScript Editor in 10.6 (in Applications -> Utilities) or Script Editor in 10.5 (in Applications -> AppleScript), then copy and paste this line:
set volume with output muted
Save this as (or whatever you'd like), with the File Format pop-up menu (in the Save dialog) set to Script. Save it somewhere where you won't accidentally delete it. Create a new script in Script Editor (Command-N), and then paste in this command:
set volume without output muted